Fernwood Investment Management LLC Purchases Shares of 6,575 Enterprise Products Partners L.P. (NYSE:EPD)

Fernwood Investment Management LLC acquired a new position in Enterprise Products Partners L.P. (NYSE:EPD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,575 shares of the oil and gas producer’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPD. Quantinno Capital Management LP purchased a new stake in shares of Enterprise Products Partners during the third quarter valued at approximately $263,000. Orion Portfolio Solutions LLC boosted its position in Enterprise Products Partners by 18.7% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,808 shares of the oil and gas producer’s stock valued at $402,000 after buying an additional 2,178 shares during the period. MML Investors Services LLC grew its holdings in Enterprise Products Partners by 13.1% in the 3rd quarter. MML Investors Services LLC now owns 127,600 shares of the oil and gas producer’s stock worth $3,714,000 after acquiring an additional 14,806 shares during the last quarter. Drucker Wealth 3.0 LLC purchased a new position in shares of Enterprise Products Partners in the third quarter valued at about $228,000. Finally, Barclays PLC raised its stake in shares of Enterprise Products Partners by 110.0% during the third quarter. Barclays PLC now owns 2,531,756 shares of the oil and gas producer’s stock valued at $73,699,000 after acquiring an additional 1,326,010 shares during the last quarter. Institutional investors own 26.07% of the company’s stock.

Enterprise Products Partners Trading Down 3.0 %

Shares of NYSE EPD opened at $28.91 on Wednesday. Enterprise Products Partners L.P. has a 1 year low of $27.37 and a 1 year high of $34.63. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. The firm has a 50-day moving average of $33.15 and a 200 day moving average of $31.86. The stock has a market cap of $62.61 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last released its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $14.20 billion during the quarter, compared to analyst estimates of $14.07 billion. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period last year, the business earned $0.72 earnings per share. As a group, sell-side analysts expect that Enterprise Products Partners L.P. will post 2.9 EPS for the current fiscal year.

Enterprise Products Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 14th. Stockholders of record on Wednesday, April 30th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 7.40%. Enterprise Products Partners’s dividend payout ratio is currently 79.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company downgraded Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. Morgan Stanley upped their target price on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, March 11th. Scotiabank lifted their price target on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a report on Thursday, March 6th. Truist Financial upped their price objective on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Wolfe Research lowered shares of Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.89.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.